https://www.taxtmi.com/caselaws?id=178036 The Appellate Tribunal allowed the appeal in a tax case, deleting the addition of Rs. 4,00,000 under section 68 as the appellant proved the identity and creditworthiness of the depositor. The disallowance of expenses for Telephone, Mobile, Petrol, Motor Vehicle, and Depreciation was reduced from 10% to 5% by the Tribunal. Additionally, the ad hoc addition of Rs. 4,829 for Sales Promotion, Staff Welfare, and Repair Charges was removed by the Tribunal due to insufficient evidence and unjustified disallowance. en-us Mon, 30 Apr 2012 00:00:00 +0530 Thu, 22 Jun 2017 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178036 The Appellate Tribunal allowed the appeal in a tax case, deleting the addition of Rs. 4,00,000 under section 68 as the appellant proved the identity and creditworthiness of the depositor. The disallowance of expenses for Telephone, Mobile, Petrol, Motor Vehicle, and Depreciation was reduced from 10% to 5% by the Tribunal. Additionally, the ad hoc addition of Rs. 4,829 for Sales Promotion, Staff Welfare, and Repair Charges was removed by the Tribunal due to insufficient evidence and unjustified disallowance. Case-Laws Income Tax Mon, 30 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178036